Vanguard Group Inc. Decreases Stock Holdings in Texas Capital Bancshares, Inc. $TCBI

Key Points

• Vanguard trimmed its stake by 1.7% to 4,548,611 shares—about 9.97% of the company—valued at roughly $411.8 million, and overall institutional investors own about 96.9% of the stock.
• The bank beat estimates last quarter with $1.58 EPS vs. $1.42 expected and revenue of $323.99M (up 15.5% Y/Y), while analysts hold a consensus "Hold" rating and an average target of $102.08 with expected FY EPS of 7.63.
• Texas Capital announced a quarterly dividend of $0.20 per share (annualized $0.80, 0.8% yield; ex-dividend June 1), and insiders bought shares recently—46,500 shares worth about $1.11M over the past three months.

Vanguard Group Inc. reduced its holdings in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 1.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,548,611 shares of the bank's stock after selling 80,788 shares during the quarter. Vanguard Group Inc. owned 9.97% of Texas Capital Bancshares worth $411,831,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Danske Bank A S purchased a new stake in Texas Capital Bancshares during the third quarter worth approximately $25,000. Farther Finance Advisors LLC grew its stake in Texas Capital Bancshares by 1,381.8% during the fourth quarter. Farther Finance Advisors LLC now owns 326 shares of the bank's stock worth $30,000 after buying an additional 304 shares during the period. Advisory Services Network LLC purchased a new stake in Texas Capital Bancshares during the third quarter worth approximately $32,000. Thurston Springer Miller Herd & Titak Inc. grew its stake in Texas Capital Bancshares by 169.7% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 391 shares of the bank's stock worth $35,000 after buying an additional 246 shares during the period. Finally, Cullen Frost Bankers Inc. purchased a new stake in Texas Capital Bancshares during the third quarter worth approximately $39,000. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

Texas Capital Bancshares Trading Up 1.7%

TCBI opened at $102.35 on Thursday. The stock has a market capitalization of $4.47 billion, a PE ratio of 13.76, a P/E/G ratio of 1.43 and a beta of 0.68. The firm's fifty day moving average price is $97.28 and its 200 day moving average price is $94.77. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.01 and a quick ratio of 1.01. Texas Capital Bancshares, Inc. has a 12-month low of $69.65 and a 12-month high of $108.92.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The bank reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.16. The firm had revenue of $323.99 million for the quarter, compared to analysts' expectations of $318.10 million. Texas Capital Bancshares had a net margin of 17.71% and a return on equity of 10.76%. The firm's quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.92 earnings per share. As a group, research analysts expect that Texas Capital Bancshares, Inc. will post 7.63 EPS for the current fiscal year.

Texas Capital Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, June 1st.

Insiders Place Their Bets

In other Texas Capital Bancshares news, Director Paola M. Arbour bought 1,000 shares of the company's stock in a transaction on Wednesday, March 11th. The shares were bought at an average cost of $91.50 per share, with a total value of $91,500.00. Following the completion of the acquisition, the director owned 6,671 shares of the company's stock, valued at approximately $610,396.50. This trade represents a 17.63% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert W. Stallings bought 5,500 shares of the company's stock in a transaction on Friday, March 6th. The shares were acquired at an average cost of $22.80 per share, for a total transaction of $125,400.00. Following the completion of the acquisition, the director directly owned 175,087 shares of the company's stock, valued at $3,991,983.60. This trade represents a 3.24% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired 46,500 shares of company stock worth $1,113,500 over the last three months. 1.91% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on TCBI shares. Barclays upped their target price on shares of Texas Capital Bancshares from $90.00 to $100.00 and gave the company an "underweight" rating in a research note on Friday, January 23rd. TD Cowen upped their target price on shares of Texas Capital Bancshares from $103.00 to $110.00 and gave the company a "hold" rating in a research note on Monday, January 26th. DA Davidson upped their target price on shares of Texas Capital Bancshares from $94.00 to $104.00 and gave the company a "neutral" rating in a research note on Friday, January 23rd. Royal Bank Of Canada upped their target price on shares of Texas Capital Bancshares from $110.00 to $114.00 and gave the company a "sector perform" rating in a research note on Friday, April 24th. Finally, Hovde Group upped their target price on shares of Texas Capital Bancshares from $93.00 to $102.00 and gave the company a "market perform" rating in a research note on Tuesday, January 27th. Four analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $102.08.

Texas Capital Bancshares Company Profile

Texas Capital Bancshares, Inc is a bank holding company headquartered in Dallas, Texas, operating through its wholly owned subsidiary, Texas Capital Bank. The company specializes in providing commercial banking services to middle-market companies, entrepreneurs, professional service firms, real estate developers, and not-for-profit organizations. Its broad range of offerings includes commercial lending, treasury and cash management, real estate finance, equipment finance, and energy lending, all designed to address the unique financial needs of businesses navigating growth and market challenges.

In addition to its core commercial banking capabilities, Texas Capital Bancshares delivers private banking and wealth management services for business owners and high-net-worth individuals.

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